Value of 1995 South African Rand today

R100 in 1995

R447.73 in 2023

The inflation rate in South Africa between 1995 and today has been 347.73%, which translates into a total increase of R347.73. This means that 100 rand in 1995 are equivalent to 447.73 rand in 2023. In other words, the purchasing power of R100 in 1995 equals R447.73 today. The average annual inflation rate between these periods has been 5.5%.

Inflation timeline in South Africa (1995 - 2023)

The following chart depicts the equivalence of R100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (ZAR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation 1995-2022	323.35%
Cumulative inflation 1995-today	347.73%
Avg. Annual inflation 1995-2022	5.49%
CPI 1995	33.3
CPI 2022	140.98
CPI 2023-04 (latest official data)	148.26
CPI today	149.1

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1995 and 2022, use the corresponding CPI values:

Value₂₀₂₂

=Value₁₉₉₅ ×

CPI₂₀₂₂/CPI₁₉₉₅

=R 100 ×

140.98/33.3

≈R423.35

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 149.1:

Value_today

=Value₁₉₉₅ ×

CPI_today/CPI₁₉₉₅

=R 100 ×

149.1/33.3

≈R447.73

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)ⁿ, where:

FV: Future Value
PV: Present Value
i: Interest rate (inflation)
n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are R100 worth today. There are 27 years between 1995 and 2022 and the average inflation rate was 5.49%. Therefore, we can resolve the formula like this:

Value₂₀₂₂

=PV × (1 + i)ⁿ

=R100 × (1 + 0.0549)²⁷

≈R423.35

South Africa inflation - Conversion table

Initial Value		Equivalent value
R1 rand in 1995	→	R4.23 rand in 2022
R5 rand in 1995	→	R21.17 rand in 2022
R10 rand in 1995	→	R42.34 rand in 2022
R50 rand in 1995	→	R211.68 rand in 2022
R100 rand in 1995	→	R423.35 rand in 2022
R500 rand in 1995	→	R2,116.77 rand in 2022
R1,000 rand in 1995	→	R4,233.53 rand in 2022
R5,000 rand in 1995	→	R21,167.67 rand in 2022
R10,000 rand in 1995	→	R42,335.34 rand in 2022
R50,000 rand in 1995	→	R211,676.68 rand in 2022
R100,000 rand in 1995	→	R423,353.36 rand in 2022
R500,000 rand in 1995	→	R2,116,766.82 rand in 2022
R1,000,000 rand in 1995	→	R4,233,533.64 rand in 2022

Cumulative inflation From 1995	347.73%
Avg. annual inflation From 1995	5.5%
CPI 1995	33.3
CPI today	149.1

Value of Rand over time (by year)

Period	Value
1995	100
1996	107.35
1997	116.58
1998	124.61
1999	131.06
2000	138.06
2001	145.93
2002	159.79
2003	168.86
2004	167.69
2005	171.15
2006	176.71
2007	187.62
2008	206.52
2009	221.43
2010	230.48
2011	242
2012	255.86
2013	270.66
2014	287.25
2015	300.29
2016	320.02
2017	336.61
2018	351.82
2019	366.32
2020	378.07
2021	395.51
2022	423.35
2023-04	445.22
Today	447.73